The growth of the global hospital tumor marker market can be primarily attributed to the increasing prevalence of cancer worldwide. Continuous advancements in technology are supporting easy identification of cancer, which is working in the favor of the market. Moreover, the increasing demand for efficient, cost effective, and safer treatments is boosting the adoption of hospital tumor marker. Another factor driving the market is the increasing government support for the development of advanced and efficient diagnosis and treatment tools for malignancy. Furthermore, anticipated technological breakthroughs in the field of multiple tumor market will create numerous growth opportunities for the market. However, the involvement of high cost in hospital tumor marker procedures is restraining the growth of the global market.
Cancer is considered as the most significant cause of morbidity and mortality across the world and early detection of the same is essential for the best chance of prevention. Serum tumor markers are widely used in the diagnosis of cancer, monitoring of treatment and evaluation of cancer status. Tumor markers are the proteins that ideally confirm the presence of malignancy. Tumor markers are the substances that can be found in the body of cancer patients. Ideally, these substances would be found in higher quantities than normal amounts in the blood of the cancer patients compared to normal individuals. Each of these tumor markers has special properties and a variable usefulness in the diagnosis, screening, monitoring the reappearance of cancer, prognosis and response to therapy.
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Different types of tumor markers are beta-2-microglobulin (B2M), alpha-fetoprotein (AFP), CA15-3, bladder tumor antigen (BTA), CA 125, CA27.29, calcitonin, CA 19-9, chromogranin A, carcinoembryonic antigen (CEA), inhibin, immunoglobulins, human chorionic gonadotropin (HCG), prostatic acid phosphatase (PAP), NMP22, neuron-specific enolase (NSE), lactate dehydrogenase (LDH), prostate-specific antigen (PSA), and soluble mesothelin-related peptides (SMRP).
On the basis of geography, the global hospital tumor marker market is divided into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. North America will continue to dominate the market until the end of 2023, followed by Europe. The dominance of this region can be attributed to the rising geriatric population and high awareness regarding tumor marker diagnosis. Moreover, various leading companies are domiciled in the region, thereby assuring easy penetration and healthy growth rate. The extensive support offered by government for the development of innovative and clinically advanced tools for cancer diagnosis. The rapidly growing population and the rising prevalence of cancer are fuelling the adoption of the global hospital tumor marker market.
The report profiles key players in the market along with their cost and revenue structure, latest developments, and business strategies. The leading players in the global hospital tumor marker market are F. Hoffmann-La Roche Ltd., Radient Pharmaceuticals Corporation, Mackay Life Sciences, Panacea Pharmaceuticals, Epigenomics AG, Targeted Diagnostics & Therapeutics, Siemens Healthcare, Bio-Rad Laboratories Inc., Biomedical Diagnostics, Becton, Dickinson and Company, Applied Genetic Technologies Corporation, and Abbott Laboratories.
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